Commodities
LNG Supplier New Fortress Falls After Delaying Dividend Payment
- Company delays payout as it seeks agreement with debtholders
- Second LNG export cargo is heading to Europe, firm says
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Shares of New Fortress Energy Inc. plunged as much as 16% after the US-based natural gas provider delayed its dividend payment.
The company founded by Wes Edens said its previously declared dividend of $0.10 a share will be delayed until it can reach an agreement with debtholders to address near-term maturities and liquidity requirements, according to a Monday statement. A company spokesperson didn’t respond to a request for comment on the dividend delay.